How to make saving easy

When you're young it can be easy to forget how important savings are, but once priorities like buying a house and starting a family creep up, it becomes obvious why savings are so essential.

Saving doesn't have to be a chore, however, and it can be a habit you develop over time to ensure that when a significant expense is on the horizon, you have the cash put aside to cover the cost.

Start by considering savings as part of your monthly outgoings, much like the electricity or gas bill. Once you have factored savings into your regular budget, you will automatically begin building a pot.

Don't feel like you have to put large sums aside every month. Choose a figure and stick to it, perhaps along the lines of other monthly expenses to reinforce it as part of your usual payments.

Remember that savings are everywhere. They can be the spare change in your pocket or the reduced sum you spent on this week's shopping bill. Put all that accumulated cash into a piggy bank and then deposit into an account at the end of the month.

If you find it hard to motivate yourself to save, then set yourself an initial goal such as a holiday or a new car. When you begin to realise that savings pay off in the long-term, you will be more determined to build up a pot.

Another idea is to use occasions like your birthday or Christmas to request cash instead of a gift. You can split this in half, putting one part into your savings, while enjoying the other to treat yourself.

The main thing to remember is that saving is a long-term habit that will not only benefit your immediate future, but for later life and retirement costs. In the meantime, think of it as a personal challenge rather than a chore.

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